PayItSimple, a NYC-based provider of a patented, PCI-compliant payment solution technology that enables merchants to offer consumers the ability to make purchases using interest-free installments, secured $10m in funding.
Simpel Management, LLC, made the investment.
The company intends to use the funds to grow operations.
Led by Alon Feit, CEO, PayItSimple provides merchants with a PCI-compliant payment solution technology to offer customers the ability to pay in secure, interest-free installments with their VISA and MasterCard credit cards. In the meantime, the merchants receive the amount of the purchase upfront, without having to wait to receive payments over time.